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The basic difference between a will and a living will is the time when it is executed. A will takes legal effect upon death. A living will, on the other hand, gives instructions to your family and doctors about what medical treatment you do and don't wish to have, should you become incapacitated.

Revocable living trusts and wills both allow you to name beneficiaries for your property.For example, most people use living trusts to avoid probate. But living trusts are more complicated to make, and you can't use a living trust to name an executor or guardians for your children. You need a will to do those things.

People who are living with a terminal illness or are about to have surgery have an urgent need to complete a living will. If you do not have a living will and you become incapacitated and unable to make your own decisions, your physicians will turn to your closest family members (spouse, then children) for decisions.

A Last Will and Testament only takes care of your stuff (your assets). A Living Will only takes care of your self (your health care). Having either one of these documents is good it's better than nothing! But having both (or otherwise addressing both sides of estate planning) is better.

To be valid, a living will must meet state requirements regarding notarization or witnesses. A living will can be revoked at any time. The document can take effect as soon as it's signed, or only when it's determined that the person can no longer communicate his or her wishes about treatment.

Living will. A living will is a written, legal document that spells out medical treatments you would and would not want to be used to keep you alive, as well as your preferences for other medical decisions, such as pain management or organ donation. In determining your wishes, think about your values.

These are my wishes if I am ever in a persistent vegetative state. _____ I do not want life-sustaining treatments (including CPR) started. If life-sustaining treatments are started, I want them stopped. _____ I want the life-sustaining treatments that my doctors think are best for me.